Provident Financial Services, Inc (NYSE:PFS) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

A number of other research firms also recently weighed in on PFS. DA Davidson started coverage on Provident Financial Services in a research note on Friday, September 1st. They set a “neutral” rating and a $25.00 price target on the stock. Zacks Investment Research raised Provident Financial Services from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Wednesday, November 1st. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $28.50 price target on shares of Provident Financial Services in a research note on Wednesday, November 1st. Royal Bank Of Canada reaffirmed a “buy” rating and set a $30.00 price target on shares of Provident Financial Services in a research note on Friday, September 8th. Finally, BidaskClub downgraded Provident Financial Services from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $27.80.

Provident Financial Services (NYSE:PFS) opened at $25.83 on Thursday. Provident Financial Services has a 52 week low of $23.19 and a 52 week high of $28.92. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.10 and a current ratio of 1.08. The firm has a market capitalization of $1,730.00, a P/E ratio of 17.26, a P/E/G ratio of 1.69 and a beta of 0.98.

Provident Financial Services (NYSE:PFS) last posted its quarterly earnings results on Friday, October 27th. The savings and loans company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. Provident Financial Services had a return on equity of 7.61% and a net margin of 25.90%. The business had revenue of $85.32 million for the quarter, compared to the consensus estimate of $83.84 million. During the same period in the prior year, the business earned $0.36 EPS. analysts anticipate that Provident Financial Services will post 1.54 earnings per share for the current year.

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In other Provident Financial Services news, Director Edward Odonnell sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $27.30, for a total transaction of $81,900.00. Following the completion of the sale, the director now directly owns 91,335 shares of the company’s stock, valued at approximately $2,493,445.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.90% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Wells Fargo & Company MN increased its holdings in Provident Financial Services by 28.6% during the 3rd quarter. Wells Fargo & Company MN now owns 128,330 shares of the savings and loans company’s stock worth $3,423,000 after purchasing an additional 28,561 shares in the last quarter. Legal & General Group Plc increased its holdings in Provident Financial Services by 5.0% during the 3rd quarter. Legal & General Group Plc now owns 126,068 shares of the savings and loans company’s stock worth $3,365,000 after purchasing an additional 6,036 shares in the last quarter. American International Group Inc. increased its holdings in Provident Financial Services by 5.7% during the 3rd quarter. American International Group Inc. now owns 48,704 shares of the savings and loans company’s stock worth $1,299,000 after purchasing an additional 2,638 shares in the last quarter. Systematic Financial Management LP increased its holdings in Provident Financial Services by 1.3% during the 3rd quarter. Systematic Financial Management LP now owns 478,062 shares of the savings and loans company’s stock worth $12,750,000 after purchasing an additional 6,364 shares in the last quarter. Finally, Cortina Asset Management LLC bought a new stake in Provident Financial Services during the 3rd quarter worth approximately $3,659,000. 61.37% of the stock is owned by hedge funds and other institutional investors.

Provident Financial Services Company Profile

Provident Financial Services Inc is a holding company for The Provident Bank (the Bank). The Bank is a New Jersey-chartered capital stock savings bank. As a community and customer-oriented institution, the Bank provides personal service and customer convenience in serving the financial needs of the individuals, families and businesses residing in its primary markets areas.

Analyst Recommendations for Provident Financial Services (NYSE:PFS)

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